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       On June&amp;#160;12, 2009, the Company entered into a three-year
       $175&amp;#160;million accounts receivable securitization program.
       Under the terms of the agreement, the Company sells, on a
       revolving basis, its receivables to a wholly-owned,
       bankruptcy-remote-subsidiary. This subsidiary then sells all of
       the rights, title and interest in a pool of these receivables to
       an unaffiliated entity. After the sale, the Company, as servicer
       of the assets, collects the receivables on behalf of the
       unaffiliated entity. The amount of receivables sold through this
       program as of July&amp;#160;29, 2009 was $131.8&amp;#160;million. The
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       On July&amp;#160;29, 2009, H. J. Heinz Finance Company
       (&amp;#8220;HFC&amp;#8221;), a subsidiary of Heinz, issued
       $250&amp;#160;million of 7.125%&amp;#160;notes due 2039 through a
       private placement. The notes are fully, unconditionally and
       irrevocably guaranteed by the Company. The proceeds from the
       notes were used for payment of the cash component of the
       exchange transaction discussed below as well as various expenses
       relating to the exchange, and for general corporate purposes.
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       On August&amp;#160;6, 2009, subsequent to the end of the first
       quarter, HFC exchanged $681&amp;#160;million of 7.125%&amp;#160;notes
       due 2039 (of the same series as the notes issued in the private
       placement), and $217.5&amp;#160;million of cash, for
       $681&amp;#160;million of their outstanding 15.590% dealer
       remarketable securities due December&amp;#160;1, 2020. In addition,
       HFC terminated a portion of the remarketing option by paying the
       remarketing agent a cash payment of $89.0 million. The exchange
       transaction will be accounted for as a modification of debt.
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       The Company was in compliance with all of its debt covenants as
       of July&amp;#160;29, 2009.
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   &amp;#160;








       (11)&amp;#160;&amp;#160;

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